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ATTY/RESO.3016/CC FIG TREE PACE PROGRAM <br />REV: 9-12-14 PT <br />Page 11 of 15 <br /> <br />EXHIBIT B <br />Indemnification Agreement <br /> <br />INDEMNIFICATION AGREEMENT <br />BY AND BET WEEN <br />THE CITY OF REDWOOD CITY AND <br />FIGTREE COMPANY, INC. <br /> <br /> <br />This Indemnification Agreement (the “Agreement”) is entered into by and between the City <br />of Redwood City, a municipal corporation or political subdivision, duly organized and existing <br />under the laws of the State of California (the “Public Entity”) and Figtree Company, Inc., a <br />California corporation, the administrator of the Figtree Property Assessed Clean Energy and Job <br />Creation Program (the “Administrator”), which is a program of the California Enterprise <br />Development Authority, a California joint exercise of powers authorit y (the “Authority”). <br /> <br />RECIT ALS <br /> <br /> <br />WHEREAS, the Authority is a joint exercise of powers authority whose members include <br />the Public Entity in addition to other cities and counties in the State of California; and <br /> <br />WHEREAS, the Authority established the Figtree Property Assessed Clean Energy and Job <br />Creation Program (the “Figtree PACE Program”) to allow the fin ancing of certain renewable <br />energy, energy efficiency and water efficiency improvements that are permanentl y affixed to real <br />property through the levy of assessments voluntarily agreed to by the participating property <br />owners pursuant to Chapter 29 of Part 3 of Division 7 of the Streets and Highways Code (“Chapter <br />29”) and the issuance of improve ment bonds, or other forms of indebtedness, under the <br />Improvement Bond Act of 1915 upon the security of the unpaid assessments; and <br /> <br />WHEREAS, the Authority has conducted or will conduct proceedings required by Chapter <br />29 with respect to the territory within the boundaries of the Public Entity; and <br /> <br /> <br />WHEREAS, the legislative body of the Public Entity adopted or will adopt a resolution <br />authorizing the Public Entity to join the Figtree PACE Program; and <br /> <br />WHEREAS, the Public Entity will not be responsible for the formatio n, operatio n and <br />administration of the Figtree PACE Program as well as the sale and issuance of any bonds or other <br />forms of indebtedness in connection therewith, incl uding the conducting of assessment proceedings, <br />the levy and collection of assessments and any remedial action in the case of such assessment <br />payments, and the offer, sale and administration of any bonds issued by the Authority on behalf of <br />the Figtree PACE Program; and <br /> <br />9.B. - Page 26